Investment Rating - The report rates the rail transit equipment industry with a 5-star rating, indicating a positive outlook for investment opportunities in this sector [45]. Core Insights - The rail transit equipment industry is crucial for national infrastructure and economic development, with a market size expected to grow from 1649.48 billion to 1690.61 billion from 2024 to 2028, reflecting a compound annual growth rate (CAGR) of 0.62% [3][42]. - The industry has experienced a decline from 2047.97 billion in 2019 to 1290.81 billion in 2023, with a CAGR of -10.90% during this period [3][42]. - China's rail transit equipment manufacturing has achieved global competitiveness, with over 70% of the world's high-speed rail operating mileage [10][45]. Industry Definition - Rail transit is defined as a transportation system based on fixed tracks, primarily including railways (both conventional and high-speed) and urban rail transit (such as subways and light rail) [4][3]. Industry Classification - Rail transit equipment is categorized into three main types: vehicle systems, electromechanical equipment and systems, and complete vehicles [6][3]. Industry Characteristics - Key characteristics of the rail transit equipment industry include the central role of communication signal systems and complete vehicles, China's global competitiveness in manufacturing, and the tiered maintenance costs of rail vehicles [10][11]. Market Size and Trends - The market size of the rail transit equipment industry has fluctuated, with significant growth expected in the coming years, driven by the expansion of high-speed rail networks and urban transit systems [42][45]. - The demand for communication signal systems is projected to exceed 60 billion annually from 2024 to 2028, indicating a robust market for upgrades and maintenance [29][34]. Development History - The development of China's rail transit equipment has progressed through several phases, from the first standard gauge railway in 1881 to the rapid advancements in high-speed rail technology in the 21st century [13][14]. Upstream Analysis - The upstream segment includes equipment design, consulting services, and raw material supply, with a focus on steel and other materials essential for rail transit infrastructure [28][31]. Midstream Analysis - The midstream segment involves the manufacturing of mechanical components and electromechanical systems, with significant contributions from major state-owned enterprises [28][34]. Downstream Analysis - The downstream segment focuses on operational services, safety inspections, and maintenance, with a projected value of 165.7 billion for advanced repairs of rail vehicles in 2024 [38][39]. Policy Overview - Recent policies aim to enhance the integration of rail transit systems and promote low-carbon, intelligent, and efficient development in the rail transit equipment industry [50][53].
企业竞争图谱：2024年轨交设备 头豹词条报告系列
Tou Bao Yan Jiu Yuan·2024-12-11 12:31